A successful market economy requires well defined property rights and
A) a safety net to ensure that those who cannot participate in the market economy can earn an income.
B) detailed government regulations.
C) balanced supplies of all factors of production.
D) an independent court system to adjudicate disputes based on the law.
D
Economics
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Cigarettes are highly addictive and therefore have a very low elasticity of demand. A $2.00 increase in the national sales tax on cigarettes would likely cause the price paid by buyers of cigarettes to
A) increase by more than $1.00 but less than $2.00. B) increase by $2.00. C) increase by more than $2.00. D) increase by less than $1.00. E) remain unchanged.
Economics
List three primary ways in which profits above "normal" interest rate levels can be earned
Economics